When it comes to the division of ownership of a company, there are plenty of options to be had.
When it comes to life insurance, agents are constantly on the lookout for new markets to tap. From child-free married couples to high net worth young professionals and the growing population of wealthy individuals from countries like Brazil and Russia, it’s essential for insurance agents to be on the lookout for the next great market in need of wealth or retirement planning services.
While logic would dictate that half of the human population is hardly considered a niche market, it seems that many insurance agents have tailored their sales pitch to male clients and need to reconsider their approach when working with women.
As an insurance agent working with high net worth individuals, sometimes convincing them to properly invest in their future can be a challenge.
Insurance agents and financial planners would do well to work to meet the financial demands of the lesbian, gay, bisexual and transgender community, which typically has a higher median income than the general population but overwhelmingly rates their experience in the U.S. financial industry as poor. In fact, a recent Prudential survey found that 63 percent of LGBT Americans give the industry’s attention to their community a poor rating.
Being on the ball in regards to financial and retirement planning is key, but there are some mistakes that investors could make that could nullify those good intentions.